Cardinal Health, Inc. (NYSE:CAH) Shares Purchased by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC raised its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 10.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,067 shares of the company’s stock after buying an additional 3,409 shares during the period. Orion Portfolio Solutions LLC’s holdings in Cardinal Health were worth $4,148,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Pacer Advisors Inc. increased its stake in shares of Cardinal Health by 17.5% in the fourth quarter. Pacer Advisors Inc. now owns 2,619,561 shares of the company’s stock worth $264,052,000 after buying an additional 389,431 shares during the last quarter. Norges Bank bought a new position in shares of Cardinal Health during the fourth quarter worth about $258,499,000. California Public Employees Retirement System grew its position in shares of Cardinal Health by 118.9% during the fourth quarter. California Public Employees Retirement System now owns 1,516,035 shares of the company’s stock worth $152,816,000 after acquiring an additional 823,520 shares during the last quarter. Brandes Investment Partners LP grew its position in shares of Cardinal Health by 2.4% during the fourth quarter. Brandes Investment Partners LP now owns 1,221,191 shares of the company’s stock worth $123,096,000 after acquiring an additional 28,042 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Cardinal Health by 25.2% in the first quarter. Russell Investments Group Ltd. now owns 814,894 shares of the company’s stock worth $91,349,000 after purchasing an additional 163,896 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CAH has been the topic of several recent analyst reports. Citigroup cut their price objective on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a report on Friday. Robert W. Baird raised their target price on Cardinal Health from $129.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 9th. Evercore ISI dropped their price objective on Cardinal Health from $115.00 to $105.00 and set an “in-line” rating for the company in a research note on Tuesday, July 9th. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 2nd. Finally, Argus reduced their target price on Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $109.67.

Cardinal Health Trading Down 0.3 %

Shares of CAH stock traded down $0.27 during trading hours on Friday, reaching $95.03. 1,575,460 shares of the company’s stock were exchanged, compared to its average volume of 2,182,006. The company has a market cap of $23.15 billion, a price-to-earnings ratio of 42.47, a P/E/G ratio of 1.06 and a beta of 0.61. Cardinal Health, Inc. has a fifty-two week low of $85.11 and a fifty-two week high of $116.04. The stock’s 50 day moving average is $98.25 and its 200-day moving average is $103.92.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.13. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The firm had revenue of $54.90 billion during the quarter, compared to the consensus estimate of $56.05 billion. During the same quarter in the prior year, the firm earned $1.74 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. Equities analysts anticipate that Cardinal Health, Inc. will post 7.35 EPS for the current year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were issued a $0.5056 dividend. This is an increase from Cardinal Health’s previous quarterly dividend of $0.50. The ex-dividend date was Monday, July 1st. This represents a $2.02 annualized dividend and a dividend yield of 2.13%. Cardinal Health’s payout ratio is presently 89.78%.

Cardinal Health Profile

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.